...be promoted. This is pretty much what everyone would have expected, although I was surprised by the amount of the "discount". The author also argues that while Xi Jinping's anti-corruption campaign probably hasn't eliminated the problem, it has substantially reduced it.
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For those interested in following up, the original paper is Chen, Ting and James Kai-sing Kung. 2019. “Busting the ’Princelings’: The Campaigns against Corruption in China’s Primary Land Market”, The Quarterly Journal of Economics 134(1): 185-226.
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